Business Directories

Al Basel posts $156m in 2013 sales

Dubai, December 22, 2013

UAE-based Al Basel Real Estate Brokers, a leading real estate brokerage firm and a member of the Al Basel Group of Companies, earned over Dh575 million ($156.5 million) in sales in 2013, said its founder and managing director.

The company’s positive streak is attributed to the overwhelming response for their current portfolio of hot selling projects, which includes Downtown and Arabian Ranches for Emaar; DIFC and Business Bay for Deyaar and many others, in addition to its strategic partnerships with leading property investors from GCC countries, explained Basel Al Kasem.

“The Middle East region’s real estate market continues to demonstrate strong vibrancy and continuous growth, which is highly evident in the increasing number of residential development projects across countries like the UAE, Saudi Arabia and Qatar,” added Al Kasem.

“At the rapid pace of growth that the company has experienced, we are looking towards hitting sales of Dh250 million for the first three months of 2014.

“The strong response that we have received from customers and potential investors has prompted us to expand our operations in the region—starting off with the opening of a new office in Saudi Arabia, which is the largest real estate market within the Middle East.”

Looking to sustain its growth, the company has also revealed an expansion initiative that will be implemented in the next four months. The move includes the opening of a new branch in Saudi Arabia, which is considered as the region’s largest and main real estate market.

According to Al Basel Real Estate senior executives, majority of today’s consumers who are looking to invest in real estate have preferred to deal with an experienced and highly professional firm like Al Basel, instead of going to new developers who have no references or actual projects delivered.

Since its establishment in 2007, the company has managed to offer a diverse portfolio of innovative brokerage services that have been designed to encourage higher quality and best practices for both commercial and residential offerings.

Al Kasem pointed out that with the UAE winning the bid to host World Expo 2020, the country’s real estate industry will be reinforced with more trust and added interest.

“The local real estate segment will stand to gain a lot with the UAE winning its World Expo 2020 bid. This will surely drive in a demand for more real estate offerings as more and more people have expressed interest in the real estate opportunities offered by the region,” concluded Al Kasem. – TradeArabia News Service